Gates Industrial Agrees To Acquire Belts Business From The Timken Company; Terms Not Disclosed
Gates Industrial Corporation plc GTES | 0.00 | |
Timken Company TKR | 0.00 |
Gates to acquire the belts business from The Timken Company
DENVER, May 1, 2026 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that it has entered into a definitive agreement to acquire the belts business from The Timken Company (NYSE:TKR) including select manufacturing assets. Terms were not disclosed.
This transaction is expected to close in the third quarter of 2026, subject to customary closing conditions. Gates and the belts business of Timken will continue to operate as separate entities until the transaction closes.